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Regulatory Compliance and Evolving Cyber Threats Drive Network Security Market Growth
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As organizations begin to adopt new network architectures, such as private, public, and hybrid clouds for improved agility and business outcomes, securing these highly dynamic environments becomes more complex. Seamless integrated network security technologies to defense against evolving threats in the entire attack continuum are necessary to fill in the security gaps through collaboration spanning stages, such as detection, prevention, mitigation, and response.The introduction of new cyber security laws—China’s cyber security law, Singapore’s Cyber Security Bill or the General Data Protection Regulation (GDPR)—is significantly driving the growth in the region. Government recognition of the need for stronger security has cast pressure on enterprises to comply to regulations.The rising frequency of high-profile ransomware attacks (e.g., WannaCry or NotPetya) large-scale data breaches, and the growing sophistication of targeted attacks and phishing techniques continued to urge enterprises to seek comprehensive network protection capabilities.The outbreak of high-profile ransomware attacks and data breaches that damaged reputations and caused financial loss drove governments in the region to recognize the need for security, especially protection of critical information infrastructure sectors. In 2017, higher demand was observed from these sectors, resulting in healthy double-digit growth, across healthcare, BFSI, education, government, and service provider sectors.From the business performance perspective, Greater China region (GCR) and Japan continued to lead the overall network security market in APAC region during 2017 in terms of market share, followed by the Association of Southeast Asian Nations (ASEAN), Australia and New Zealand (ANZ), India and South Korea.
The market trends are analyzed for the study period 2016 to 2022, with 2017 being the base year. The countries included in this study are: Australia, New Zealand, Singapore, Malaysia, Indonesia, the Philippines, Thailand, Vietnam, China, Hong Kong, Taiwan, India, Japan, and South Korea.
This study is categorized into three key focus areas: firewall, Secure Sockets Layer Virtual Private Networking (SSL VPN), and Intrusion Detection System (IDS) & Intrusion Prevention System (IPS). Vertical segmentation in this study includes the government, banking, financial services, and insurance (BFSI), service provider, healthcare, manufacturing, education, and other sectors. The customer segmentation includes large enterprises with more than 500 employees and small and medium-sized businesses with less than 500 employees.
Companies mentioned in this network security market's competitive landscape are: Check Point Software Technologies, Cisco Systems, Fortinet, Palo Alto Networks, Huawei, IBM Security, Sangfor, H3C Technologies, F5 Networks, Venustech, TopSec, McAfee, Neusoft, 360 ESG, Sophos, Hillstone Networks, Juniper Networks, Trend Micro, NSFOCUS, SonicWall, WatchGuard Technologies, and other vendors.
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